The demand for plant protein is growing worldwide due to consumer interest in alternative proteins, awareness of the benefits of plant-based diets, and the environmental impact of animal agriculture.
In response, the global market for plant protein ingredients is projected to reach US$ 11 billion by 2033, according to a Fact-MR report. Some of the key drivers of the market include the increasing demand for plant-based meat and dairy, the growing popularity of protein beverages and supplements, and the rising interest in natural and organic food products.
Key players, recent launches
Ingredient companies make isolates or concentrates, using technological advancements such as new extraction methods and looking for novel plant sources for protein.
Soy is the most studied and widely used source of plant protein because it has a strong and reliable supply chain. But as the industry advances and looks into new sources, wheat, pea, and rice are becoming protagonists of plant-based foods. Less popular sources, but gaining attention, include vegetables, legumes, fruits, nuts, oilseeds, lentils, chickpeas, potatoes, and canola.
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